Samsung hits record high of 279 trillion won in sales last year

It has been tentatively estimated that Samsung achieved 279.04 trillion won in sales last year, the highest sales ever since its founding in 1969 driven mainly by overall outstanding performance across all business sectors such as semiconductors, household appliances and mobile devices. Last year, LG Electronics also recorded the highest sales in history. 　

Samsung Electronics on Friday announced last year’s tentative business performance report with 279.04 trillion won in sales and 51.57 trillion won in operating profit. Up by 14.4 percent from the last highest sales of 243.77 trillion won in 2018, last year’s performance made it possible for Samsung to reach the upper range of 200 trillion won in sales for the first time. Last year’s operating profit of more than 50 trillion win is the third largest record made ever following 58.88 trillion won in 2018 and 53.64 trillion won in 2017.

Last year was a tumultuous period for Samsung characterized by operational disruptions in business cores such as China and Vietnam due to the COVID-19 pandemic as well as a wrecked supply chain system following rising prices of raw materials and trade conflicts between Washington and Beijing. That is why the highest level of sales in Samsung’s history recorded despite all such difficulties is highly commended as a considerable achievement made. 　

The performance report released only shows overall performance. Detailed performance records by sector – semiconductors, finished goods, display, etc. – will be made pubic on Jan. 27. Nevertheless, financial and stock gurus and electronics insiders already expected that the semiconductor sector may have reached almost 100 trillion won in sales, accounting for 60 percent of Samsung’s operating profit, given the trends during ilast year’s third quarter from July to September.


Hyung-Seok Seo skytree08@donga.com